Despite coming into its first decade of existence, the emerging cryptocurrency market is still considered a new an evolving one, hence still lacking many of the institutions established in traditional markets.
For one, the absence of regulation across exchanges and a persistent volatility have prevented institutional investors from participating in the crypto economy. Those that do venture in continue to do so cautiously, aware that applications of conventional trading instruments have yet to become entrenched in cryptocurrency trading.
Nevertheless, this vacuum has provided opportunities for several blockchain projects that seek to minimize some of the risks that investors are faced with when taking on blockchain and crypto investments.
Cryptics’ AI-based Solution
Artificial intelligence has been proposed as one of those solutions, an idea that trading startup Cryptics is hoping to take to the blockchain, in an attempt to address uncertainties that come with the industry.
believes that market participants can be supported by continuous liquidity on exchanges, providing a cushion of safety for retail investors via a connecting platform for market players to develop tested algorithms that accurately predict value changes across cryptocurrencies.
Based on highly sophisticated scoring models using deep machine learning and AI, these types of instruments have been shown to be more consistent in performance than even the most fortunate or most savvy of human traders.
Working of Cryptics Platform
Cryptics employs algorithms that simultaneously analyse an entire spectrum of factors that could influence the price of cryptocurrency, combining modern AI and neural networks to aggregate data from a vast number of open sources, compiling information on exchange rates from exchanges and social networks.
These algorithms quickly map out all trending possibilities, using natural language programming (NLP) analysis to process amounts of data with speed far outstripping that of human analysis.
Cryptics’s AI has assembled the databases of major miners, influencers, billionaires, banks, large companies and state organizations, collecting valuable insight from all these sources to help identify significant entries and meanings in the data.
Via its native QRP token, the Cryptics platform will possess an internal economy, allowing participants to access advanced features using QRP. It believes that these features mean that trading can be taken down to simpler levels while eliminating many of the risks associated with conventional methods.
As the platform develops, it expects its AI to attain forecasting certainty and accuracy, with current rates estimated already at over 70% accuracy. Its platform is built for volume, forecasting 88,000 users by 2021, bringing in an expected revenue of $ 96 million.
Designed and developed by a group of trading and technical experts having previous experience with such names as Intel, Nokia, NEC, and SAP, with its core team made up of mathematics and data science doctorates, Cryptics is the coordinated cumulation of the highest competencies combined with the innovative efficiencies of the blockchain.